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News Releases and Updates

Investor Alert: ASC warns public about Bforex

Jun 29 2012

The Alberta Securities Commission (ASC) is issuing an investor alert about Bforex, an offshore company that claims to be an online, over-the-counter broker specializing in the trading of foreign currency and commodities. The ASC has received information that Bforex has solicited Albertans to invest, even though the offshore company is not registered with the ASC to sell securities, is not a reporting issuer in Alberta and has not made any filings with the ASC. Bforex appears to be based out of the British Virgin Islands and lists contact information in seven countries on its website.

The ASC reminds Albertans of the following red flags when offered an online investment opportunity:

Guaranteed high returns, no risk

High pressure sales tactics to invest right away

Tax-free and offshore

Website content is full of jargon, or contains spelling or grammatical errors

Lack of quality information or indication of who is offering the opportunity

Canadian securities regulators have issued an Investor Watch related to foreign currency exchange (Forex) trading that highlights the significant risks related to this type of investment.

Anyone who has knowledge about this investment offering is asked to contact ASC Public Inquiries at 403-355-4151, toll free 1-877-355-4488 or email inquiries@asc.ca.

The Alberta Securities Commission (ASC) is the regulatory agency responsible for administering the province’s securities laws. It is entrusted to foster a fair and efficient capital market in Alberta and to protect investors.